At the start of the year, Bank of America Corp (NYSE:BAC) was riding a wave of optimism, as shares had run ahead by almost 45% since early October, fueled by a presidential result that likely meant less regulation in the financial industry. BofA is hardly alone, as mega-cap rivals JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) have cooled off as well. The question is, is the muted year the reality we face, or is this just an opportunity to jump on before BAC stock takes off again?

Paul Singer's Elliott Management acquired a little bit more debt from Fidelity Investments in a move to block Warren Buffett's Berkshire Hathaway (BRKA) from buying Oncor, a power transmission unit of Energy Future Holdings. WSJ's Dana Mattioli and David Benoit reported Wednesday night that Elliott's purchase of a different class of debt from Fidelity closed "a potential loophole that Mr. Buffett's Berkshire Hathaway could have used to force the deal," according to people familiar with the matter.